Abstract: The invention comprises a nestable-extendable apparatus for dispensing fluids from a container. The dispensing apparatus is nestable--i.e., capable of being collapsed or inverted into the container when not in use and extended or telescoped therefrom when needed to dispense fluid. The apparatus includes a selectively operable dispensing valve at the outboard end of a flexible, extendable, nestable member preferably of generally circular cross section and generally conical longitudinal section. The dispensing valve can be "nested", or collapsed into the container by inverting the membrane within itself into the container, and can be "telescoped" or extended by manually pulling the valve and membrane into the extended position by means of a pull-out ring. The dispensing valve can be collapsed into an opening in the container wall. The dispensing valve of the preferred embodiment may be opened by pressing a button with the thumb.